US-based company Solana, on July 26, introduced a hackathon for the developers in India. The winner of this hackathon will not only get total prize money of Rs 60 Lakh ($80790.12) but also, would get a chance to launch their product and raise capital from global investors.
The company decided to launch a hackathon at that time when the demand for crypto experts is increasing in the country.
Along with increasing crypto trading and mining in the country, the demand for new talents is also rising. Most crypto exchanges in India are hiring new talents for their companies and the roles are mostly technical and related to engineering.
Anatoly Yakovenko, who founded Solana in 2017, organized ‘Build out Loud’ hackathon in collaboration with developer community Devfolio and crypto YouTube community Super Pumped.
Registration for this hackathon is open till August 12 and from the very next day, the event will be initiated.
The organizers have announced to reward the winner of this event with prize money of $10000, followed by $7000 and $5000 for second and third place respectively.
The company has also decided to offer some special prizes for selected themes, which would be sponsored by venture capitalists and entrepreneurs.
As per the report, LightSpeed India would be sponsoring $10,000 for payment streaming apps in the hackathon. Also, actor Kunal Kapoor would be sponsoring $5000 for developing programmable NFTs.
While talking about Solana’s hackathon, Kashif Raza, co-founder of Crypto Kanoon, stated that the aim of this event is to gather more developers from India and encourage them to build more applications, which could help them in gaining traction. He further explained that if a gaming application uses SOL (Solana coins), it would not only help the developers in gaining popularity among the audience but also the platform.